Shares of Argan Inc. (AGX) surged 5.14% in pre-market trading on Thursday, following the release of strong first-quarter 2026 results and a significant price target upgrade from Lake Street analysts.

Argan, a company known for its involvement in the power industry, reported its Q1 2026 earnings after the market close on Wednesday. While specific details were not provided, the company's performance appears to have impressed investors, contributing to the stock's upward momentum.

Adding fuel to the rally, Lake Street, a notable research firm, raised its price target for Argan to $236 from $150, maintaining a Buy rating on the shares. The analysts cited strong margins in their decision to boost the target, signaling confidence in the company's financial health and future prospects. This substantial increase in the price target, representing a potential upside of over 50% from current levels, has likely sparked renewed investor interest in AGX stock.